Tag: causing global warming

Why Bitcoin Is Bad For The Environment

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million. Bitcoins are created as a reward for a process known […]

How Is Bitcoin Mining Bad For Environment

Bitcoin mining is bad for environment for a few reasons. The first reason is that bitcoin mining requires a lot of energy. In fact, it is estimated that the bitcoin network consumes as much energy as Denmark. This is bad because it increases greenhouse gas emissions and contributes to climate change. The second reason is […]